Four Resolutions That Should Last All Year

We are two weeks in to 2017, at this point in time more than one-third of those who “set” New Year’s resolutions have stopped them.  The new year is time for a refreshing new start for you and your business.  To help you succeed in 2017 and beyond I wanted to give you 4 easy-to-implement resolutions that can have a big impact on your success.

#1: Treat everyone like a client, not a customer.

Customers are one time sales and there is no relationship.  Do you have a relationship with the manager of your local grocery store?  Probably not because you are a customer of the brand name.  Business owners only collect money from a customer and when one customer leaves a new one comes in.

On the converse, a client (or patient) actually refers to a lifetime relationship where the individual comes to see you for your professional care. Patients (clients) are the base of a thriving business while customers are never seen again.  Change your mindset and treat everyone who comes in your door as a client (patient).

#2: Understand the value of a new patient and make decisions based on that.

Knowing this patient value should drive decisions, measure profitability, and forecast the future easily. This number is the value of a patient who comes to your office and is seen for their entire plan of care.  When a new patient comes to your practice, they are educated on the value of your care and the importance of being seen for the entirety of care.  If a patient drops out of care, significant revenue is not and will never be captured. Knowing the value of a new patient you can use this to budget for more new clients based on the cost per lead- #3 on the list!

The “true” value of a new patient is infinite because they are a client for life and will refer other clients for life.  A good business owner will also know the “gross” value of a new patient and the “net” value of a new patient.

#3: Compute Return on Investment (ROI) and use it in decision making and budgeting.

Knowing exactly how much money is invested to get a patient, is critical. If you are spending more than the “net” value of a new patient, then it’s time to re-evaluate your marketing. The first step at looking at marketing effectiveness is computing the return on your marketing investment.  If this ROI is equal to your net value, then there will be no growth.

#4: Focus on current and past clients in all marketing.

Most practice owners are too concerned with bringing a new patient in to the practice.  What they don’t realize is there is a gold mine sitting in their files and client lists. While everyone else is chasing new patients, you should train, educate, and sell to your current and past patients!

Instead of wasting money, and more importantly time, to constantly chase new patients, have an internal sales and referral program in place for those you already have! Their cost to acquire a current or past patient is zero!  These patients are a rich source of revenue and profit for your practice.

Do you struggle with knowing, or implementing, any of these 4 resolutions?  We are here to help!

Click Here to Schedule a Free Consultation to Learn How You Can Take Your Practice to the Next Level! »
Andrew Vertson, PT, DPT, ATC
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